Issue #669: CFTC advance notice, FinCEN withdraws rules, Bringin euro accounts

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Greetings Bitcoiner, this is Bitcoin Breakdown, your daily Bitcoin briefing on this Tuesday
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6th October.
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Three stories in under five minutes.
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Sharp analysis, zero noise.
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Let's get into it.
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First, the Commodity Futures Trading Commission.
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On Monday, October 5th, 2026, the Commodity Futures Trading Commission launched a preliminary
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rulemaking.
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It is an advanced notice of proposed rulemaking on Regulation CTX and Regulation CAM.
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The aim is a federal pathway for exchanges offering leveraged or margined retail crypto trading.
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That means a new crypto asset market registration category.
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It would use the Commodity Futures Trading Commission's existing statutory authorities.
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Be clear about what this is.
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It is only an advanced notice.
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It is not a final rule.
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public comment stays open for 60 days after publication in the Federal Register.
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Then the agency reviews the feedback and decides whether to issue a formal proposed rule.
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That would go through another comment period before any final rule is adopted Scope matters here This covers leveraged margined or financed retail trading not all crypto trading If approved it would be an alternative to state licensed exchanges
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It would not require crypto assets to trade on registered platforms without congressional action.
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Chairman Mike Selig said the agency lacks the authority to impose that without Congress.
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The Clarity Act failed to pass the Senate last month.
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Our view is that this rests on existing authority rather than the Clarity Act.
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So a future administration or a court challenge could undo these rules.
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That is our analysis, not something the agency said.
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Rules built without Congress can be unbuilt without Congress.
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Second, FinCEN is withdrawing two proposed rules.
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On Monday, October 5th, 2026, FinCEN announced it is withdrawing two proposed rules that were never finalized.
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One is the December 2020 unhosted wallet proposal.
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The other is the October 2023 convertible virtual currency mixing proposal.
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FinCEN said it is doing so as part of the Trump administration deregulatory agenda It framed this as ongoing efforts to ensure digital asset regulations are fit for purpose It also said commenters concerns about
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the broad mixing definition could have a chilling effect on legitimate activity. It said the rule
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would place a large reporting burden on covered financial institutions. The notices were announced
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October 5th and are scheduled for Federal Register publication on October 6th. Our view is that the
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withdrawal is real, yet narrow. Neither rule was ever finalized, so existing obligations on
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financial institutions are unchanged. Bank Secrecy Act and anti-money laundering duties
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on exchanges remain in force. Nor did FinCEN call mixers safe. It said it still believes illicit
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actors use mixers to hinder law enforcement. Office of Foreign Assets. Control Sanctions
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Authority also remains in place. A future administration can revive withdrawn proposals.
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Third, a business account for Bitcoin companies.
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On Tuesday, October 6th, 2026,
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Bringen announced an invite only beta
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of Euro business accounts.
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Everything here is Bringen own statement and we have not verified how the product performs Bringen says the accounts let companies hold accept and pay in Bitcoin and stable coins Bringen says companies can run euro payments from
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a Viband in the company's own name. Bringen says the accounts are available to companies across 30
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European countries. Keep the scope in mind. This is an invite only beta, not general availability.
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Bringen says 15 businesses already use it. Bringen says companies keep owner control of their coins.
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Bringen says the product targets bank account restrictions, block transfers and scattered records.
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It also targets travel rule paperwork that turns simple payments into hassle.
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Every source we checked traces back to Bringen.
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Treat it as a vendor pitch until independent users confirm it.
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That said, Bitcoin companies wanting Euro business accounts now have one more option to watch.
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That's your Bitcoin Breakdown top stories for today.
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you can find the full edition of the newsletter in the episode's description
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with much more content including the latest Bitcoin insights and analysis pieces
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and the latest Freedom Tech tools and project launches.
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Stay humble and keep on stacking those sets.